How to Spot a Scam

Cybercrime is on the increase and is becoming more sophisticated. A number of big cyber security breaches are expected to take place this year. Cyber criminals are increasingly using “whaling” rather than the traditional methods of “phishing” and “smishing”. Whaling is a new and more refined form of cybercrime which is used to steal from finance and accounting departments of large organisations using highly personalised information. Recent statistics showed that South Africans lose in excess of R2.2bn to internet fraud attacks annually.

Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.5% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.
An illustrative example of a loan at an interest rate of 27.5% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 207.50 and a monthly admin fee of R69.00, over 72 months.
The total cost of the loan will be R 110 013.57 which is a maximum Annual Percentage Rate (APR) of 30.74%.